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    Russia and economic war by the west #2

    Scorpius
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    Post  Scorpius Sun Apr 09, 2023 11:00 pm

    The Russian-Indian consortium of Transmashholding has won a tender for the production and supply of 120 passenger electric trains (1920 wagons) to India. The transaction amount is $1.7 billion, and this is the largest foreign order in the Russian railway engineering industry. The only thing bigger than him is a contract with the Russian Federal Passenger Company.

    According to the terms of the tender, production should be established in India at the Indian Railways plants in Latur and Chennai (Madras), the winner will modernize their production facilities and depots, and will also receive a contract for maintenance of rolling stock for 35 years.

    Earlier, the Indian edition of The Times of India reported that a consortium consisting of TMH and Rail Vikas Nigam offered the lowest price — 1.2 billion rupees ($14.5 million) for one train as part of a tender for the purchase of Vande Bharat electric trains. Competitors' applications turned out to be more expensive. A consortium of companies from India Titagarh and BHEL was ready to supply rolling stock for 1.4 billion rupees ($16.9 million) per train, a joint venture of German Siemens and Indian BEML — 1.45 billion rupees ($ 17.6 million). Offers from France's Alstom, as well as from Switzerland's Stadler and India's MSD turned out to be even more expensive. The service package for the maintenance of electric trains is not included in the contract price.

    The companies offering the lowest price will receive an order for 120 trains. The remaining 80 will go to the second-place consortium (in this case, it is the application of the Indian Titagarh and BHEL), but only on condition that it reduces the cost of delivery to the level of the winner. If he refuses, the other contestants will receive a similar offer. If there are no takers, then these 80 trains will also be supplied by the TMX and RVNL consortium.

    The total amount of the contract for the supply of 120 electric trains, based on the proposed conditions, will amount to $1.74 billion. If an option for another 80 trains is also selected, it will grow to $2.9 billion.

    https://www.vedomosti.ru/business/articles/2023/04/01/969132-konsortsium-transmashholdinga

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    Post  JohninMK Wed Apr 12, 2023 11:49 am

    Will the US or EU sanction them? Laughing

    Visegrád 24
    @visegrad24
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    The French liquor giant Pernod Richard has decided to re-enter the Russian market.

    The company owns:

    Ballantine's
    Chivas Regal
    Jameson
    Absolut Vodka
    Wyborowa
    Beefeater
    Havana Club
    Kahlúa
    Malibu
    Minttu

    & many more…

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    Post  higurashihougi Wed Apr 12, 2023 5:33 pm

    Russia and economic war by the west #2 - Page 37 Nga-ba10

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    Post  GarryB Thu Apr 13, 2023 7:02 am

    The new round of US sanctions target companies and people associated with the rebuilding of newly liberated territory formerly called Prince... sorry, formerly part of nazi Ukraine.

    So America is punishing people and companies for helping people in a war zone who have been shelled by their own government for almost 10 years... I guess vandals don't like people who clean up messes... even when they are created by others.

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    Post  Kiko Thu Apr 13, 2023 11:07 am

    The resilience of the Russian economy struck the West, by Olga Samofalova for VZGLYAD. 04.13.2023.

    The IMF has improved its forecast for the Russian economy for 2023 for the second time. If last year the fund was waiting for the fall of our economy, then in January it rewrote the forecast for growth. And in April, the fund decided not to be stingy and increased the growth rate of Russia's GDP. Our economy after the next tough sanctions again surprises Western economists. How?

    For the second time this year, the International Monetary Fund improves its forecast for the growth rate of the Russian economy in 2023. Last year, the fund expected a fall of 2.3%, but already in January raised its forecast for Russia's GDP to growth of 0.3%. And in the April report, the IMF again improved the forecast and now expects the growth of the Russian economy to accelerate by 0.7%.

    According to Bloomberg, the IMF's expected GDP growth in Russia in 2023 to 0.7% is the second most optimistic forecast after JPMorgan's forecast of plus 1%. Meanwhile, the median forecast of economists monitored by the agency still suggests a contraction of the Russian economy by 1.7%.

    The Russian authorities are also optimistic and expect the Russian economy to grow this year - most by more than 1%.

    Why is the IMF looking at the Russian economy with such optimism? And what makes the fund improve its forecasts? The fund's forecasts are changing as the effect of Western sanctions pressure on the Russian economy becomes clear. When the embargo and the ceiling on oil prices were just launched by the European Union, the West believed in a strong negative effect on Russia. However, when these restrictions began to take effect, it became clear that Russia was managing to reduce the negative effect on its economy. And the further, the better she does it.

    “They managed to maintain a pretty strong momentum in the economy through, for example, very strong fiscal measures. And so far, they have managed to maintain the stability of export earnings, although we expect it to decline,” explains IMF Chief Economist Pierre-Olivier Gourinsha.

    How does Russia manage to maintain the stability of its economy in adverse conditions?

    According to the Ministry of Finance, in the first quarter of 2023, Russia's oil and gas revenues decreased by 45% compared to the same period last year. This happened against the background of lower volumes and low prices for Urals (less than $50 per barrel), which led to a reduction in MET and export duties. However, apparently, this is a peak low, which will soon be passed. Because Russia is establishing logistics and supplies of oil and oil products from Europe to Asia, plus oil prices have begun to rise again after the decision of OPEC + to cut production, the price gap between the world price and the cost of Russian Urals is also shrinking.

    “After a weak beginning of the year for budget revenues, most likely, in March, a certain extremum was already passed in terms of minimum export earnings. Taking into account the time lag between the shipment of goods and payment, the inflow of revenue into the country should increase as early as May. This, for example, should have a positive impact on the ruble, and we expect the dollar to weaken to the level of 80 rubles in the coming weeks,” says Mikhail Zeltser, stock market expert at BCS Mir Investments.

    Export revenues will begin to grow already in the second quarter due to lower production volumes and the recovery of world oil prices. In addition, the discount on Russian export oil to Brent has already decreased from $33 per barrel to $29.5 per barrel, which also leads to an increase in Russian export earnings, says Vladimir Chernov, analyst at Freedom Finance Global.

    The weaker ruble than it was last year also helps the growth of budget revenues. In addition, while oil and gas revenues were falling, non-oil and gas revenues, on the contrary, grew by 14%. Finally, GDP growth is helped by increased government spending, which fuels the economy.

    “Against the background of lost revenues, the state seeks to use all sources of budget financing. One of them is dividends. The record volume of payments from Sberbank will partially offset the budget imbalance. With a total amount of payments of 565 billion rubles from Sberbank, the budget will receive half, and this is about 10% of the current deficit. Other state and quasi-state companies can follow the same path, which, for example, will continue to fuel the growth of shares on the stock exchange,” Zeltser believes.

    It has already become clear, including to IMF economists, that Russia was able to adapt to the sanctions this time as well. “Alternative markets for product exports were found, new supply chains were built, and parallel imports began to work. The raw material sector and the automotive industry had a harder time than others. Direct export deliveries of oil, gas and oil products fell, losses of companies and the budget increased significantly due to lower prices for Russian raw materials. However, the industry is seriously transforming: oil supplies have grown in the Asian direction,” says Marina Nikishova, Chief Economist of ZENIT Bank.

    What else helps the Russian economy?

    According to Nikishova, the basis for economic recovery this year will not be oil and gas exports, but domestic consumer demand, which is accelerating.

    Of course, the reasonable actions of the Central Bank helped, which last year sharply raised the key rate to double-digit values, thanks to which Russia managed to curb inflation, Chernov notes. In annual terms, inflation has dropped to 3.3%, and by the end of April it may even be less than three percent. This is below the central bank's target of 4%. However, an excessive slowdown in inflation is also not good for business and the economy. However, the Central Bank believes that after low inflation rates in May and June, annual inflation rates will begin to increase and will amount to 5-7% per year. And already in 2024, it will return to the target level of 4%. The West, in comparison with its record inflationary processes, is, of course, envious.

    Another supporting factor is the introduction of a new fiscal rule from the beginning of 2023, which now implies not only the purchase of foreign currency with excess profits from the sale of energy resources to replenish the NWF, but also the reverse operation to sell foreign currency from the NWF to eliminate the budget deficit, Chernov notes.

    The slowdown in the decline in industrial production also testifies to the recovery of the Russian economy. If in December the industry fell by 4.3%, then in January - only by 2.4%, and in February the rate of decline slowed down to 1.7%. The depreciation of the ruble, again, facilitated exports for coal miners and metallurgists, Nikishova points out.

    As a result, according to the first preliminary estimate, Russia's GDP for the first quarter of 2023 fell by only 2.7%, while the consensus forecast of analysts indicated a decline of 7%, says Chernov.

    If the first quarter was indeed, as expected, the worst this year - adaptive after the new EU sanctions, then further macroeconomic indicators will be even better. This gives grounds for a positive turn of the Russian economy. “So far, our forecast also boils down to economic growth in 2023 in the range of 0.7–1.2%, but it may change along with important macro statistics,” says Chernov.

    https://vz.ru/economy/2023/4/13/1207309.html

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    Post  franco Mon Apr 17, 2023 1:38 pm

    About the results of numerous sanctions

    Out of 3141 foreign companies that worked in Russia, only 211 actually left this market.

    It turns out that 93% of international brands continue to work, changing only the sign and name.

    https://twitter.com/Spriter99880/status/1647892381667147776?cxt=HHwWgIC-1fzYvt4tAAAA

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    Post  GarryB Tue Apr 18, 2023 6:45 am


    Out of 3141 foreign companies that worked in Russia, only 211 actually left this market.

    Which should be kept in mind because those 211 companies that left probably left with an agreement that if this conflict is over in a couple of years and the western sanctions are then stopped that they can come back and resume normal operations for the price of a dollar or some such thing...

    Ie we let the locals take over by selling them everything for a dollar and then you own it all and continue operation while we are away, but when the sanctions end and we can come back that you agree to let us buy everything back for the same dollar and we can resume making money in the Russian economy.

    Obvious problem for them is that if the west does what it says it wants to do, and seized Russian assets and funds that are frozen in the west are then used to "pay" for the Ukraine to be rebuilt (which is secret code for more corruption and misdirected funds going to overseas bank accounts like it has for the last almost decade), then these agreements can be cancelled and the Russians who are running the western businesses in Russia can pay the government a sort of semi market value so they do truly own their own companies and Russia can use those funds to replace foreign assets and funds that were stolen.

    There will be plenty of foreign companies that wont leave the Russian market because they are making good money and have invested too much time and money and effort into getting into the Russian market to want to be kicked out by moaning bloody western governments who do far worse more often than what Russia has done.

    Being in Russia they will of course have a better understanding of what is going on and why and probably agree to an extent with what the Russian government is doing.

    They would need powerful allies in the west to keep trading of course without getting identified and publicly shamed... so rich western people will have stakes in such companies which also makes them interesting targets for being kicked out of the Russian market and replaced by Russian owned equivalents... something they can investigate.

    Certainly apart from the shelling from Kiev and supplied by the west, those people in the occupied areas certainly benefit more from Russian actions than from those of the west making this conflict drag on... just cutting Kiev off from funds would lead the corrupt criminals to run and their economy would collapse overnight and they would have no alternative choice but to talk... support from the west is the only thing keeping this conflict going and Russia and Russians and even Ukrainians should understand that.

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    Post  kvs Tue Apr 18, 2023 12:55 pm

    The companies that left are not going to come back as if nothing happened. They have lost their Russian market share and tangible assets. Maybe they
    thought that Russia is so weak that they will get a pass but that is delusional. The article about how Russia's economy has been more robust than the
    west expected underscores the delusion of the west. You would think that having a grip on reality would be normal for paid professionals. But it turns out
    that circle jerking political fantasy and projection is the real state of mind of this class.

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    GarryB
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    Post  GarryB Wed Apr 19, 2023 3:49 am

    I would say the companies that left, and only 211 out of over 3,000 is bugger all, but I suspect the ones that left did so for a variety of reasons, but they probably boiled down to the fact that they were making more money in the west so cutting of a business in Russia was easier or safer than shifting everything to Russia, or perhaps they were making money in Russia but they were under serious pressure from western governments or western shareholders to force them to leave.

    The fact that most transferred their businesses to locals with agreements on their return in the next five or ten years time suggests they were making good money and really didn't want to leave, but equally they have run away and given in to the stupidity of the west so I don't have a lot of sympathy for them.

    I am sure the Russian people will decide... this is a chance for the workers in companies to maybe take over the business that they implemented with the profits going overseas to some faceless owners... just needs some Russians to step in and say lets keep doing what we are doing and talk to our customers about what they want and what they like and what they don't like and just make it better.

    It looks like the west has come to the realisation they can't just steal Russian funds and assets frozen in the west because if this:

    G7 announces terms for unfreezing Russian assets

    https://www.rt.com/news/574912-g7-russian-sovereign-reserves/

    So they have realised they can't just take it and use it as they please because of international laws and their own laws, so instead they are saying that they will keep the funds frozen until the conflict ends and until Russia has repaired the damage it did, while also increasing sanctions and imposing sanctions on those who ignore their illegal unilateral sanctions on Russia.

    Amusing really... wonder when they are going to rebuild Libya and Syria and Iraq and Afghanistan and all the other countries they destroyed.

    Also wonder if Russia can deduct the years of shelling damage Kiev inflicted on what are now Russian regions of the country or the funding and arming of Kiev by the west... does that make the west liable for the costs of repairing that damage done?

    It is clear relations will not return to anything like they were after this conflict concludes so Russia can just conclude that money is gone and look at ways of doing the same to the west and perhaps in the future working out some sort of trade to get their money back.

    Or perhaps they can try some 11/9 type terrorism against the west... that would be fun... being able to do 300 billion worth of damage to the west would be fun... just deduct it from their tab.

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    Post  kvs Wed Apr 19, 2023 5:03 am

    The best damage Russia can do to the NATzO hyena pack is to starve it of energy and other resources. No need for any terrorism or attack. NATzO clowns keep bleating about how Russia is a gas station posing as an economy and makes nothing, so just don't offer up the "gas" and see them squirm.

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    Post  JohninMK Wed Apr 19, 2023 11:47 am

    Oooops, how much more is affected?

    15th April 2023 – (Bratislava) Slovakia has discovered a 1,500-ton shipment of Ukrainian grain tainted with chlorpyrifos, an organophosphate pesticide that is subject to an EU-wide ban. The country’s agriculture minister, Samuel Vlcan, announced on Thursday that the whole shipment would be destroyed.

    The minister had first alerted the public to the issue the previous day, revealing that “traces” of pesticides had been discovered by “three independent certified laboratories” in a major haul of Ukrainian grain being transited through the country. The affected shipment weighed the equivalent of approximately 60 truckloads of produce on average and was discovered before the recently introduced measures to protect the local market, which involve the mandatory sealing of transit trucks.

    On Thursday, Vlcan elaborated on the matter, stating that the contamination of the grain was so severe that the entire shipment had to be burned. “Unfortunately, it has been confirmed that it is a dangerous concentration, the substance is chlorpyrifos, which is banned in the European Union,” the minister told JOJ 24 broadcaster. He also pledged to ramp up reviewing products containing grain of Ukrainian origins.

    The Ukrainian grain has been in the spotlight amid the ongoing conflict between Moscow and Kiev. Brussels permitted duty-free agricultural imports from the major grain-producing nation last year, purportedly to help it reach its customers in Africa and the Middle East. However, a large part of the exported grain ended up stuck in the EU, particularly in the eastern member states of the bloc.

    https://www.dimsumdaily.hk/slovakia-destroys-1500-ton-shipment-of-ukrainian-grain-contaminated-with-eu-banned-pesticide/

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    Post  JohninMK Wed Apr 19, 2023 11:50 am

    One of the increasing number of unexpected side effects of the war on Russia.

    🅰pocalypsis 🅰pocalypseos 🇷🇺 🇨🇳 🅉
    @apocalypseos
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    5h
    🇧🇩🤝🇷🇺 Bangladesh & Russia have agreed to ditch the dollar & switch to using the yuan to pay for a nearly $12 bn Russian loan given to Dhaka for the construction of the Rooppur NPP. Electricity uplifts populations out of poverty to afford everyone a dignified standard of living.

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    Post  AlfaT8 Wed Apr 19, 2023 4:01 pm

    Germany Closes Its Last Nuclear Power Plants - Electricity Bills To Spike Up To 45%

    One might say that the timing could not be worse for the implementation of "net zero" climate goals given the already boiling economic instability across the western world. Then again, maybe the timing is perfect for the people in power?

    With stagflation still running rampant in the US and Europe the last thing anyone should be worried about is a less than 1°C rise in global temperatures in the past 100 years. There is no concrete evidence of any significant climate crisis, and all the people who tell us a crisis is right around the corner do so while raking in billions in funding dollars from governments and think-tank institutions with a vested interest in reinforcing the hysteria. In other words, there is no basis for exponential restrictions on "greenhouse gas" emissions. The climate crisis claim is a sham.

    https://www.zerohedge.com/energy/germany-closes-its-last-nuclear-power-plants-electricity-bills-spike-45

    How the hell is Nato suppose to face Russia when their industries are completely crashing thanks to high energy prices??
    No wonder they are desperate not to send Ukraine any major Western weapons system.
    The West just does not have the ability to replace these losses.

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    Post  Scorpius Fri Apr 21, 2023 11:41 am

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    Post  flamming_python Fri Apr 21, 2023 2:05 pm


    How the hell is Nato suppose to face Russia when their industries are completely crashing thanks to high energy prices??
    No wonder they are desperate not to send Ukraine any major Western weapons system.
    The West just does not have the ability to replace these losses.

    I would ask the same question, but honestly I think the answer is just stupidity. Or internal political rivalries in Germany, whatever.

    Don't interrupt your enemy when they're making a mistake, and all that.

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    Post  Firebird Fri Apr 21, 2023 4:39 pm

    Very disturbing that the Banderastanis are putting all manner of "pesticide" filth on crops in what has been amongst the best soil in the World.
    I hope that satan Gates and his friends haven't been planting GM filth too.
    Once Russia liberates, there needs to be a nice big gallows built on Maidan Square for these atrocities.

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    Post  Kiko Sat Apr 22, 2023 10:35 am

    Companies from China and Turkey expressed their desire to acquire business in Russia, 04.22.2023.

    Expert Sergienko: companies in China, Iran and Turkey are interested in buying a business in Russia.

    MOSCOW, April 22 - RIA Novosti. Companies from China, Iran and Turkey are considering the possibility of buying a business in Russia and are ready to develop local production here, Yakov Sergienko, head of the consulting company Yakov and Partners, a partner in the former Russian division of McKinsey, said in an interview with RIA Novosti.

    "In general, companies from China, Iran, Turkey and other countries want to work in Russia and are considering buying businesses," Sergienko said.

    According to him, Chinese companies are looking at increasing cooperation with the Russian mining industry in terms of replacing machines and other production elements.

    “There is a huge potential in the automotive industry, the aviation industry. Here the Chinese colleagues are ready and are already actively developing local production,” he added.

    Russian enterprises are also looking for opportunities to diversify their supplies to other countries, the source said. Experts see good potential for bilateral investment, in particular, in Saudi Arabia and the United Arab Emirates.

    "Taking into account the potential of the market and the needs of our customers, we are developing our offer and presence in the UAE: Ras Al Khaimah , Dubai , Abu Dhabi . In the near future, we will expand our presence in the market of a number of emirates and begin to offer services for companies in the UAE", he said.

    At the same time, similar trends are visible in India, Sergienko noted. He expressed confidence that both countries would clearly benefit from the development of trade and economic ties, and the Russian business, the expert believes, has finally begun to take this market seriously.

    https://ria.ru/20230422/biznes-1867038826.html

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    Post  Kiko Sat Apr 22, 2023 4:57 pm

    How Russia will replace Duracell batteries, 04.22.2023.

    Experts explained how Russia can replace American Duracell batteries.

    Battery manufacturer Duracell leaves Russia. The news that came the day before caused a little consumer excitement: some began to buy additional power supplies “just in case”. The question was: will Russia cope on its own? But it turns out that the country already has its own battery manufacturers. And the departure of the American brand will only clear the way for them.

    Information about the departure of Duracell from Russia was confirmed by the head of the company in the country, Yuri Korotaev. The published letter notes that such a decision was made by the shareholders. The reason for the termination of work in Russia could be the lack of supplies of products from the company's plant in Belgium.

    The Russian "daughter" of Duracell will be liquidated, it intends to "pay off the staff." The company breaks all existing contracts and sells stocks of goods. Deliveries of products will be discontinued in the coming weeks. At the same time, the company “will fulfill any current / new orders” until stocks run out. The company's environmental projects for the disposal of used batteries, in principle, will not be curtailed, the details are now being spoken out.

    This news somewhat discouraged the Russians. Some were seriously worried and began to buy additional batteries in reserve. But in fact, there is nothing for consumers to worry about. They definitely won't run out of batteries.

    The news excited, most likely because the Duracell brand is on everyone's lips. This is due to the fact that the brand owned by the American manufacturer was distinguished by an aggressive marketing campaign. The Americans spent a lot of money on advertising the goods, and one could get the impression that their withdrawal could allegedly provoke a shortage in Russia and an increase in prices.

    However, it is not. Duracell is by no means the only foreign battery manufacturer present on the Russian market.

    It is curious that the world's largest battery manufacturers Varta and Energizer have already left the Russian market, but ordinary Russians did not even notice this. Apparently, the departure of Duracell excited the Russians precisely because the aggressive marketing campaign worked.

    The press service of the Ministry of Industry and Trade also assured that there are enough analogues of Duracell products from other foreign brands on the Russian market. In stores you can find, for example, GP batteries, which, in fact, have the widest range of products in Russia, SAFT batteries and others. But the main thing is that Russia has its own battery manufacturers. Moreover, the volumes of their production in Russia are planned to be increased, and the departure of foreign competitors from the market is only good for them. In fact, even the USSR had its own production of various batteries, and since then modern enterprises have appeared in Russia that can compete with Western batteries.

    Thus, in 2010 Videoservice VS, which has extensive experience in portable electronics, created its own brand to expand its influence on the Russian market. Power supplies have entered the sphere of interests of the manufacturer, and the cost of products manufactured in Russia and Southeast Asia is consistently in the most affordable segment. They produce various batteries under the Perfeo brand. Each new model is tested in the Moscow laboratory.

    Ergolux is the best young brand that was launched in 2013. Foton batteries are called optimal in terms of price and quality (the brand appeared in 2011). It is believed that in terms of quality these batteries are not inferior to the outgoing American ones, but in terms of price they are more profitable.

    Another battery manufacturer is Robiton, which has been on the market for over 15 years. And its products meet EU quality standards, and are sold not only in Russia, but in the CIS countries.

    Finally, the flagship of the domestic segment of the battery market is the Cosmos brand, which has been operating for a quarter of a century. Production sites, and there are more than 35 of them, are located not only in Russia, but also in Belarus and China. The company is represented in 110 cities of the country, the number of its dealers exceeds 400. It is a manufacturer with the largest dealer network.

    In general, dozens of domestic and foreign companies operate on the Russian market, offering a wide range of alkaline (alkaline), lithium, rechargeable, salt, mercury and other batteries. Therefore, the shortage of batteries is definitely not worth waiting for. Most likely, even Duracell batteries will continue to be sold after the company leaves.

    To do this, it will be enough to add the goods to the list of permitted parallel imports. Duracell batteries are manufactured in different countries. A source in the Ministry of Industry and Trade confirmed that Duracell batteries could be added to the list of products for parallel imports if the company's withdrawal is confirmed.

    “It is unlikely that the market will experience a shortage of batteries, as their imports from other countries, primarily from Asia, may be increased, in addition, it is possible that parallel imports of batteries of well-known brands can be established, which will also saturate the market. The state can take a number of measures to support the battery market, including support for importers, as well as assistance in the implementation of projects for the construction of factories for their production,” says Dmitry Baranov, a leading expert at Finam Management.

    Russian companies continue to develop and plan to expand production. In August 2022, the authorities of the Krasnodar Territory announced the start of a project to build the country's first battery production plant in the Krymsky District. The company plans to produce batteries of standard sizes "AA" and "AAA". The declared volume of investments is 1 billion rubles. The Ministry of Industry and Trade confirmed that an investment project is being worked out in the Krasnodar Territory to create two lines for the production of alkaline (alkaline) batteries in the amount of 250 million units per year. The project is planned to be implemented by AB-Batteries by 2024.

    “It is possible that a number of battery manufacturers will start producing household batteries, as they have the necessary competencies, but they will need time, and government assistance will not be superfluous,” says Baranov.

    As for the environmental aspects of the issue, here the state can regulate the market so that only modern batteries with an increased resource are imported into the country, the expert believes. In addition, the government may step up battery recycling efforts, as well as launch an information campaign to explain the benefits of new standard batteries.

    https://vz.ru/economy/2023/4/22/1208649.html

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    Post  Kiko Sun Apr 23, 2023 9:29 pm

    Western brands disappearing from Russian malls – analysts, 04.23.2023.

    The share of foreign products has dropped by half since late 2021, calculations show.

    The presence of foreign brands in Moscow’s largest shopping centers has dropped significantly over the past year amid an exit of Western companies from the Russian market, according to data shared by consultancy firm Nikoliers.

    According to the company’s calculations, at the end of the first quarter of 2023 the share of foreign brands in Moscow’s 12 largest shopping malls was 35.9%. That figure is almost half than in the fourth quarter of 2021, prior to the start of Russia’s military operation in Ukraine and the Western sanctions that followed.

    Analysts noted that spaces previously owned by foreign brands have been actively occupied by Russian retailers, both long established and those that bought out the businesses of departing companies.

    Meanwhile, new foreign brands from Türkiye and other ‘friendly’ nations have also boosted their presence in Russia. According to Nikoliers’ estimates, since the beginning of 2022, 56 such companies have announced their intention to launch businesses in the country. Ten of them have already opened stores in Russia and five are in the final stages of launching. Analysts noted that 64% of these brands are Turkish.

    Anna Nikandrova, a partner at Nikoliers, stated that “Russia remains an interesting market for foreign brands opening their first stores both in Moscow and other regions.”

    “We are already witnessing a good pace of new projects opening in quality shopping centers and we expect that by the end of the year this dynamic will continue... At the same time, it is worth noting the high activity on the part of Russian brands, which last year embraced the additional opportunities which opened for them. A number of retailers with ambitious strategies received the opportunity to implement them in the current situation, and a number of other companies, in turn, adjusted their development plans towards a more rapid expansion,” she added.

    According to data from the Kiev School of Economics’ (KSE) Leave Russia project, out of 3,157 foreign firms that operated in Russia prior to the start of the conflict in Ukraine, only 215 have so far exited the market, which is less than 7%. Russian authorities, meanwhile, have been actively reorienting both imports and exports from Western countries and companies to new markets, and introducing other trade mechanisms to help keep the domestic market well-stocked.

    https://www.rt.com/business/575010-russian-brands-sanctions-foreign-companies/

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    Post  GarryB Mon Apr 24, 2023 4:14 am

    Those 3000 plus companies are not in Russia to help Russia or to save the Russian people... they are there to make money and they stay because they are making money.

    The companies that leave will seriously lose a lot of money and brand recognition... the first thing you have to do in any market is grab market share and you do that by telling everyone who you are and what your products or services are and that is what these 3000 plus foreign companies have been doing in Russia as well as setting up places to sell their services and products and also in some cases production of their products or services... all of which requires investment of time and money.

    Being forced to suddenly leave the market is a terrible blow, first of all because your customers will not like this, and second because you lose your market share even for a short period means rivals can rise up and take that share and you will struggle to get it back from them if you do come back and if you don't come back then you take a serious economic hit.

    They are not doing this for fun, but it creates a new opportunity for local products to step up and take their place.

    Ironically as things escalate Russia might find itself in a position where it starts kicking western companies out of its market in response to western actions..... wouldn't that be interesting...

    It was about 10 years ago that Avon, a big American company pulled its company out of New Zealand and Australia because they wanted to go into the Russian market which was much bigger.

    Wonder how that is going now?

    I understood the shift... 5 million people in NZ and about 30 million in Oz... not a big market and so far away from China where most of their stuff is made.

    Russia on the other hand is 150 million and right next door to where it is made in China.

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    Post  owais.usmani Wed Apr 26, 2023 6:17 pm

    https://thewire.in/diplomacy/india-signs-deal-to-adopt-moscows-spfs-system-for-banking-payments-to-russia-report

    India Signs Deal to Adopt Moscow’s SPFS System for Banking Payments to Russia: Report

    New Delhi: The Narendra Modi government signed a significant deal with the Vladimir Putin administration last week where India agreed to adopt the Russian financial messaging system, Service Bureau of Financial Messaging System of the Bank of Russia (SPFS), for making banking payments to Russia, reports The New Indian Express.

    The landmark agreement was signed between external affairs minister S. Jaishankar and visiting Russian deputy prime minister Denis Manturov on April 18 in New Delhi, said the newspaper. The deal also allows acceptance of Indian Ru-Pay cards and India’s Unified Payments Interface (UPI) in Russia, and the Russian MIR cards and its Fast Payments System (FPS) in India.

    According to Bloomberg, about $2 billion in payments from India to Russia is stuck over the last year, and Russia has decided to stop supplying credit for about $10 billion worth of spare parts as well as the two S-400 missile-defence system batteries that are yet to be delivered.

    India and Russia had earlier agreed to settle payments through Special Rupee Vostro Accounts (SRVA) but that has been stalled because of fear of western sanctions on Indian banks and the high imbalance in bilateral trade. Russia was keen to be paid in Yuans or Dirhams. While India is not keen to adopt the Chinese currency, the UAE has been wary of western sanctions in case India uses Dirhams to pay Russia for crude oil above the western mandated price of $60 per barrel.

    The latest agreement clarifies that Russia can use the surplus Indian rupees to conduct other businesses in India or remit them back to Russia, reports the newspaper. The remittance is unlikely because of the Russian reluctance, as has been the case with the Iranian central bank, to have a reserve of rupees. As per Bloomberg, Russia had turned down India’s offer that the former use rupee proceeds from weapon sales to invest in Indian debt and capital markets to avoid stockpiling.

    SPFS is a financial messaging system that works like the Society for Worldwide Interbank Financial Telecommunication (SWIFT), the international payment system used by banks to transfer funds worldwide. After Russia’s invasion of Ukraine, the US and the EU removed most Russian banks from the SWIFT network.

    Since then, Russia has been asking India to adopt the SPFS to make the payments. Moscow developed the SPFS after Russia was threatened with expulsion from SWIFT when it annexed Crimea in 2014.

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    Post  franco Thu Apr 27, 2023 12:39 pm

    On April 25, Vladimir Putin signed a decree on the seizure of certain foreign assets in our country as a response to the confiscation in the United States and "foreign states and international organizations that have joined them" of the property of Russian citizens and legal entities. Thus, the head of state made it clear that "the process has begun." Or at least can go.

    In the document, the actions of Western countries are called "unfriendly and contrary to international law" and are generally characterized as "illegal deprivation of the Russian Federation, Russian legal entities and individuals of the right of ownership."

    The decree also states that movable and immovable property, securities, shares in authorized capital, property rights can be transferred to the Federal Property Management Agency, appointed as an interim manager. However, in some cases, the president may appoint another person as the interim asset management structure. The financial expenses associated with the temporary management of property, according to the decree, are carried out at the expense of income from its use.

    The list of organizations attached to the decree, whose assets are seized and transferred under temporary management, names 87.73% of the shares of Unipro PJSC (owned by the German company Uniper SE), two blocks of shares of the Finnish company Fortum at once - 69.8807% of Fortum Russia BV and 28.3488% from Fortum Holding BV

    It is noteworthy that these foreign companies operate in the energy sector. Thus, Unipro owns five state district power plants: Surgutskaya, Berezovskaya, Shaturskaya, Smolenskaya. Yaivinskaya. Shortly after the start of the CBO, the main shareholder of Uniper SE announced the suspension of investments in Russian assets, the net profit of which in 2022 amounted to 21.27 billion rubles.

    The state-owned Finnish company Fortum owns thermal and solar power plants in Russia, as well as some other enterprises. In May 2022, she announced her intention to leave our country.

    Both companies tried to sell Russian enterprises, but they were prevented by the decree of the head of state, which prohibited the sale of strategic assets owned by shareholders from unfriendly states.

    FULL ARTICLE: https://svpressa-ru.translate.goog/economy/article/370663/?utm_source=finobzor.ru&_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en

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    Post  GarryB Thu Apr 27, 2023 1:29 pm

    Hahahaha...

    They will be like the European airlines complaining they can't fly over Russian airspace after banning Russian airlines from operating in their airspace first...

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    Post  JohninMK Thu Apr 27, 2023 1:45 pm

    Proving that even an undeclared war can have very unexpected side effects.

    Arthur Morgan
    @ArthurM40330824
    ·
    3h

    - Beginning of breakdown of unipolar world order
    - introduction of #Dedollarisation
    - strengthening of #BRICS and #EurasiaInitiative
    - proving that US sanctions are toothless
    - protecting millions of #Russian speaking #Donbass citizens from annihilation.

    Not bad for 1 year.

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    Post  GarryB Fri Apr 28, 2023 3:53 am

    - proving that US sanctions are toothless

    To be fair normally when the west gangs up on a small country like this that country suffers terribly... to the point where most countries do as the US and west tells them to do.

    Exceptions like Cuba and North Korea and Iran and Syria have all suffered in their own way.

    The amount of human suffering the US creates around the world so its rich and powerful can get slightly richer is disgusting.

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